The Descartes Systems Group Inc. (NASDAQ:DSGX) Holdings Raised by Cidel Asset Management Inc.

Cidel Asset Management Inc. raised its stake in shares of The Descartes Systems Group Inc. (NASDAQ:DSGX) (TSE:DSG) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 107,468 shares of the technology company’s stock after purchasing an additional 264 shares during the period. Cidel Asset Management Inc.’s holdings in The Descartes Systems Group were worth $12,210,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DSGX. Jane Street Group LLC boosted its position in The Descartes Systems Group by 20.4% during the third quarter. Jane Street Group LLC now owns 13,290 shares of the technology company’s stock valued at $1,368,000 after purchasing an additional 2,250 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of The Descartes Systems Group during the 3rd quarter valued at about $2,308,000. Massachusetts Financial Services Co. MA grew its stake in shares of The Descartes Systems Group by 2.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 470,631 shares of the technology company’s stock valued at $48,456,000 after buying an additional 9,768 shares in the last quarter. Barclays PLC increased its holdings in The Descartes Systems Group by 2.8% in the third quarter. Barclays PLC now owns 10,008 shares of the technology company’s stock worth $1,031,000 after buying an additional 270 shares during the last quarter. Finally, Canoe Financial LP bought a new position in The Descartes Systems Group during the fourth quarter valued at approximately $7,939,000. 77.73% of the stock is currently owned by hedge funds and other institutional investors.

The Descartes Systems Group Trading Up 0.8 %

Shares of DSGX stock opened at $119.85 on Friday. The Descartes Systems Group Inc. has a 1 year low of $84.12 and a 1 year high of $122.88. The firm’s fifty day simple moving average is $116.27 and its 200 day simple moving average is $107.98. The firm has a market capitalization of $10.26 billion, a P/E ratio of 75.38 and a beta of 0.99.

The Descartes Systems Group (NASDAQ:DSGX) (TSE:DSG) last posted its quarterly earnings data on Tuesday, December 3rd. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.02). The Descartes Systems Group had a return on equity of 10.65% and a net margin of 21.80%. During the same quarter in the prior year, the company posted $0.31 EPS. Equities research analysts anticipate that The Descartes Systems Group Inc. will post 1.64 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on DSGX. BMO Capital Markets boosted their target price on shares of The Descartes Systems Group from $104.00 to $120.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Barclays raised shares of The Descartes Systems Group from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $88.00 to $125.00 in a research report on Friday, November 15th. Royal Bank of Canada upped their price target on The Descartes Systems Group from $115.00 to $133.00 and gave the stock an “outperform” rating in a research note on Friday, November 29th. Loop Capital assumed coverage on The Descartes Systems Group in a research note on Tuesday, December 17th. They issued a “buy” rating and a $140.00 price objective on the stock. Finally, TD Securities boosted their target price on The Descartes Systems Group from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Five investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $117.92.

The Descartes Systems Group Profile

The Descartes Systems Group Inc provides cloud-based logistics and supply chain management solutions worldwide. Its Logistics Technology platform offers a range of modular, interoperable web and wireless logistics management solutions. The company provides a suite of solutions that include routing, mobile, and telematics; transportation management; ecommerce, shipping, and fulfillment; customs and regulatory compliance; global trade intelligence; broker and forwarder enterprise systems; and B2B messaging and connectivity services.